Here is the Economist:
“The outlines of the announcement, which has generated much anticipation, had been well trailed. They included: the floating of a small stake in Saudi Aramco, the world’s biggest oil company; the creation of the world’s largest sovereign-wealth fund to invest in a diverse range of assets; more jobs for women; and more vibrant non-oil industries, ranging from mining to military hardware. These are radical proposals in a country that has historically generated nine-tenths of government revenues from oil, and whose budget deficit is expected to reach 13.5% of GDP this year after an 18-month slump in oil prices.”
And here is why the urgency:
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